January 10, 2020 - An amended complaint was not filed. The court dismissed the case with prejudice.

December 10, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

January 28, 2019 - A motion to dismiss the consolidated complaint was filed.

November 28, 2018 - A consolidated complaint was filed.

June 21, 2018 - An investor in shares of Newell Brands Inc (NYSE: NWL) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Newell Brands Inc in connection with certain allegedly false and misleading statements made between February 6, 2017 and January 24, 2018.

Hoboken, NJ based Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide.
On February 6, 2017, Newell Brands Inc announced its fourth quarter and full year results. Newell Brands Inc reported that its annual Total Revenue rose from over $5.91 billion in 2015 to over $13.26 billion in 2016 and that its Net Income increased from $350 million in 2015 to $527.80 million in 2016. Newell Brands Inc also provides its guidance for the twelve months ending December 31, 2017.

On November 2, 2017, Newell Brands Inc announced its third quarter 2017 results and revised its outlook for the twelve months ending December 31, 2017. During the related earnings call, Newell Brands Inc disclosed that Nits “disappointing outcome” and materially lower core sales growth were due to “retailers pull[ing] back on order rates and rebalanced inventories” to help clear the known, but previously undisclosed, bloated build-up of Newell Brands Inc inventory in the retail channel.

Then, on January 25, 2018, Newell Brands Inc preannounced its 2017 financial results. The Company stated that it anticipated 2017 core sales growth of approximately 0.8% versus previous guidance of 1.5% to 2.0% (implying negative 2.0% organic sales growth during the 2017 fourth quarter), due, in part, to continued retailer inventory destocking. The Company also announced it was exploring “strategic options” to significantly restructure its business by divesting industrial and commercial assets, which was expected to result in a 50% reduction in both the Company’s customer base and its global factory and warehouse footprint. The same day, Newell Brands Inc announced that three members of its Board had resigned.

On February 16, 2018, Newell Brands Inc announced its fourth quarter and full year 2017 results and issued its outlook for the twelve months ending on December 31, 2018. Newell Brands Inc reported that its annual Total Revenue rose from over $13.26 billion in 2016 to over $14.74 billion in 2017 and that its Net Income increased from $527.80 million in 2016 to over $2.74 billion in 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Newell Brands Inc (NYSE: NWL) common shares between February 6, 2017 and January 24, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 6, 2017 and January 24, 2018, the defendants misrepresented and/or failed to disclose the following adverse facts, among others, that the Company’s retail channel was loaded with extremely high levels of unsold Newell Brands Inc product, that contrary to defendants’ representations, the build-up of Newell Brands Inc inventory in the retail channel was due to Company-specific rather than macroeconomic reasons, that as a result of the unusually high levels of unsold inventory in the retail channel, Newell Brands Inc was exposed to a heightened risk that it would experience slower sales growth in future periods, and that undisclosed managerial and cultural differences in the legacy Newell Brands Inc and Jarden businesses had created significant internal discord that was having a material adverse effect on the Company’s operating performance.